Targets export of half-a-million tonnes of pellets this year
KIOCL Ltd, which has made a shipment of iron ore pellets to Iran under the Centre’s ‘Make in India’ concept, is targeting to export 0.5 million tonnes of pellets under this during the year.
Addressing press-persons in Mangaluru, Malay Chatterjee, Chairman and Managing Director, KIOCL Ltd (formerly Kudremukh Iron Ore Company Ltd), said that the company is bringing high-grade iron ore (with ‘Fe’ content of 67 per cent), from Brazil and converting it into pellets at KIOCL’s pellet plant at New Mangalore under this concept.
After this, the pellet consignment is exported to Iran, he said.
The vessel – m.v. Aries – with 66,500 tonnes of iron ore pellets was flagged off at the New Mangalore Port on Saturday.
Asked why the company is importing iron ore concentrates from Brazil, he said, as Iran prefers to use only high-grade pellets (with ‘Fe’ content of 66 per cent and above), the company sourced the high-grade iron ore concentrate from Brazil and produced high-grade pellets to meet Iran’s requirements.
The ore of this grade is not available in India, he said.
On the potential of the Iran market, he said it has a market of around 10 million tonnes for pellets.
KIOCL, which is strategically located at New Mangalore on the west coast of India, can serve Iran with least logistic costs.
Asked about the target of export under the ‘Make in India’ concept, he said: “We are hopeful of doing 0.5 million tonnes of export under ‘Make in India’ during the calendar year 2016.”
KIOCL is holding discussions with various steel companies in Iran and MENA (Middle East and North Africa) region for such an arrangement.
Under this, KIOCL’s machinery will be put to effective use for converting the high-grade concentrate into pellets and supplying it to Iran and MENA countries under the ‘Make in India’ concept.
This will add to the export capacity and enrich the nation with foreign exchange earning, he added.
KIOCL Ltd, which has made a shipment of iron ore pellets to Iran under the Centre’s ‘Make in India’ concept, is targeting to export 0.5 million tonnes of pellets under this during the year.
Addressing press-persons in Mangaluru, Malay Chatterjee, Chairman and Managing Director, KIOCL Ltd (formerly Kudremukh Iron Ore Company Ltd), said that the company is bringing high-grade iron ore (with ‘Fe’ content of 67 per cent), from Brazil and converting it into pellets at KIOCL’s pellet plant at New Mangalore under this concept.
After this, the pellet consignment is exported to Iran, he said.
The vessel – m.v. Aries – with 66,500 tonnes of iron ore pellets was flagged off at the New Mangalore Port on Saturday.
Asked why the company is importing iron ore concentrates from Brazil, he said, as Iran prefers to use only high-grade pellets (with ‘Fe’ content of 66 per cent and above), the company sourced the high-grade iron ore concentrate from Brazil and produced high-grade pellets to meet Iran’s requirements.
The ore of this grade is not available in India, he said.
On the potential of the Iran market, he said it has a market of around 10 million tonnes for pellets.
KIOCL, which is strategically located at New Mangalore on the west coast of India, can serve Iran with least logistic costs.
Asked about the target of export under the ‘Make in India’ concept, he said: “We are hopeful of doing 0.5 million tonnes of export under ‘Make in India’ during the calendar year 2016.”
KIOCL is holding discussions with various steel companies in Iran and MENA (Middle East and North Africa) region for such an arrangement.
Under this, KIOCL’s machinery will be put to effective use for converting the high-grade concentrate into pellets and supplying it to Iran and MENA countries under the ‘Make in India’ concept.
This will add to the export capacity and enrich the nation with foreign exchange earning, he added.
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